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The Deconstruction of Equity: Activist Shareholders, Decoupled Risk, and Corporate Governance

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New investment techniques and new types of shareholder activists are shaking up the traditional ways of equity investment that informs much of our present-day corporate law and governance. Savvy investors such as hedge funds are using financial derivatives, securities lending transactions, and related concepts to decouple the financial risk from shares. This leads to a distortion of incentives and has potentially severe consequences for the functioning of corporate governance and of capital markets overall. Taking stock of ...

The Deconstruction of Equity: Activist Shareholders, Decoupled Risk, and Corporate Governance 2016, Oxford University Press, Oxford

ISBN-13: 9780198723035

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